Annual Report - 2007
Financials
Statements of Financial Position
December 31, 2007 and 2006
The Foundation’s IRS Form 990 and complete financial statements, audited by Mr. Douglas C. Bunnell, Certified Public Accountant, are available for review in the Foundation offices.
| Assets | 2007 | 2006 |
| Cash | $7,781 | $1,623 |
| Investments | 50,531,932 | 45,240,904 |
| Prepaid expenses | 12,139 | 11,534 |
| Oil and gas royalty interests, net of accumulated depletion of $133,556 in 2007 and 2006 |
0 | 0 |
| Accrued interest receivable | 65,664 | 97,213 |
| Bequest receivable | 6,693,282 | 0 |
| Beneficial interest in remainder trust | 744,554 | 0 |
| Fixed assets, net of accumualted depreciation of $74,340 and $59,793 in 2007 and 2006 respectively |
23,217 | 36,421 |
| Total assets | $58,078,569 | $45,387,695 |
| Liabilities and Net Assets | ||
| Grants payable | 1,346,382 | $142,100 |
| Funds held for agencies | 11,462,663 | 9,840,356 |
| Total liabilities | 12,809,045 | 9,982,456 |
| Net assets | ||
| Unrestricted | 35,792,930 | 32,666,754 |
| Temporarily restricted | 9,476,524 | 2,738,485 |
| Total net assets | 45,269,524 | 35,405,239 |
| Total liabilities and net assets | $58,078,569 | $45,387,695 |
Next: Financials - Statements of Activities
